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Very excited. Holding 12,235, 000 now after buying more on Fri. Can't wait til tomorrow am. Will buy more if it drops early doors looking for 4/5p by Weds/Thurs. GL to all

I bought back in after last week's fall and have been topping up lately with a few more today. Looking good with today's action. Expecting a nice rise here now sitting on nearly 450k of these beauties and expecting take off soon.GL luck to all. zl

Stocky - lol if you think they have 4m til next march you are saying that they have INCREASED overheads and monthly cash burn to over 400k per month. You are lying and I shall copy and send this to the board. Watch what you say, it is being recorded

Zebbo. - ?? what fear ? Fomo?? Lol I have enough anyway.

Fear because a certain poster doesn't like the truth??

I said they have NO CASH for exploration and peanuts til Q1 to keep the lights on and teabags FACT

Check my post ( if that is what you are referring to) not the misquote. They currently have NO CASH for drilling or exploration activity FACT.

The company needs a farmout or debt or some other funding to drill. CASH runs out Q1 fact.

Hope that helps

Zengas

Thanks for your post. Sensible, indepth and balanced as always.

I think James Menzies mentioned 100km in the presentation?? though there is infrastructure around, distances are still a consideration??.James mentioned the seal risk?? Other points taken - especially from such a reasoned and respected poster

Urraca - yes but I have not been a shareholder in that co for many ( long ) years

Check your facts. Cash til Q1. Japex deal 20m +4m + 100m lending facility ( 200m syndicated they were suggesting) all come to nothing

Millions raised ( tens of millions) from IPO and placings all gone. Nothing to show for it

Facts

Don't indulge in mass delusion.

Deeko wrong on every count. Gdr has raised cash already, got 3x amount, has products etc. Lbe has wasted tens of millions over the past 4/5 years with nothing to show for it, given it all way for 2 million to keep lights on for 9 months?

Most on here are in denial. Lbe couldn't monetise a lemonade bottle

And for that matter, I am not sure why we are in this parlous position when we had production ( which we f'd up and 100 million ( up to 200 million syndicated) cash facility begging us to be used but we couldn't come up with something to do with it. Explain that to me ???

We are effectively trying to big up our wares on a market stall with a begging bowl and a clever bit of patter ( a la three men and a dog...)

The market cap may well be low but exploration needs tens of millions (and upwards) The company has no cash but peanuts enough to keep the lights on for 6/9 months. The company is being optimistic and hoping to leverage everything but to pretend we are fully resourced and not in need of funding is ridiculous and misleading.

No, I just prefer to face reality when it comes to aim stocks. Being misty eyed can bring painful lessons.

I expect they will need to raise cash before year end. Cash expected to last til Q1 25 but they won't want to leave it until the last minute. Although the company has said that it would like to raise some cash from the farmout ( when i/ if it happens?) they may not get those terms and may have to settle for a free carry on a reduced percentage of any discovery. In any case the company is not in the strongest of negotiating positions so may have to accept what they get offered.

I agree I doubt there will be any drilling until 2026. On previous form, the farmout will probably get extended into H1 25 and there will be a fundraise by the end of this year imo

Well that's a moot point, bringing up the fact that drilling in Norway has such a higher chances of success. Can't believe the irony was lost on you.

You also rather conveniently completely gloss over the seal risk ( highlighted by the directors yesterday as one of the top two risks ) ie. that the gas/ condensate/ hydrocarbons are no longer present i.e. gone. FACT

Good for 'size of prize'but in real terms low this is fact ( i.e. there is 73 to 84% that the drill will be a duster. FACT

Not sure why you have to be so hostile. I was careful to be very balanced with my facts. Most of the points were made by the directors.

The chance of success at 16 to 27% is lower than all of the previous Longboat drills ( and we all know to our cost where that left us)

CO2 is an ever present risk on drilling.

The acerage is 100km offshore.There have been no drills out that far yet in Luconia.

The other dual big risk is seal ( i.e. that the gas formed and was present but has leaked) .

The directors specifically talked about all these risks yesterday.

Ok you don't want balance ( or facts) just ramping...sorry.

Sorry guys, missed your posts earlier, out for the night.

From the presentation my main concerns were the low CoS and the seal risk which was highlighted by the directors on the presentation.

The chance of success is lower for this drill than all the previous drills Longboat have done over the years mmm.

Obviously the seal risk is pretty significant as means the gas was formed and present at some point but has escaped ( worst scenario).

I felt that the directors were being more realistic in this presentation by highlighting the risks quite candidly, of which there are a few. If there is CO2 present carbon capture/ storage is a possible option but this is complicated by the fact this drill is 100km offshore.

In all a very complex and complicated set up involving many different considerations before a 2026 drilling schedule.

My own concern is the relatively low( ish) chance of success and of course the seal risk. Both of which to be fair, the directors did acknowledge in the presentation.I think today went well. I guess the sp may pause here until the next development ( DRO award) mid summer. Some recent buyers may be taking some money off the table ATM as some lucky short termers are looking at a rise of near 400% in the space of a couple of weeks ( lucky for some) my average is still a bit higher! GL all

I am very pleased to be buying sub 1.6 ( keep dipping in) unexpected bonus from a slight delay. Very happy GL all